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BTCC Review 2024- Fees, Features, Security, Facts & More

Publisher

February 14, 2024
BTCC Review crypto exchange

Founded in Hong Kong and now headquartered in the United Kingdom, BTCC is one of the world’s oldest cryptocurrency exchanges. Despite facing regulatory challenges in China, it has remained resilient.

But is BTCC a dependable choice for your crypto trading needs? Let’s further explore that in this comprehensive BTCC review.

 

BTCC Overview

BTCC, one of the most enduring cryptocurrency exchanges worldwide, has garnered a reputation for its reliability, security, and liquidity, making it a favored choice for users seeking a trusted platform.

Founded back in 2011 by Bobby Lee, whose brother, Charlie Lee, is renowned for his role in Coinbase and Litecoin, BTCC started its journey with substantial investments from Chinese and international venture capital.

Over the years, it grew to become China’s largest cryptocurrency exchange. However, challenges arose as it had to suspend Yuan deposits multiple times due to uncertainties regarding China’s cryptocurrency stance.

This situation cast shadows not only on BTCC but also on the broader cryptocurrency markets.

In response to these developments, BTCC initiated significant changes in its operations. BTCC shifted its headquarters to the UK to expand its international reach while maintaining its steadfast commitment to reliability and security.

What we love most about BTCC is its generous crypto signup bonus. Up to $11,000 in trading bonuses can be claimed on BTCC.

You can check out our BTCC bonus guide to get the best value for money on the exchange.

 

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👍 Pros👎 Cons
✅ BTTC mobile app is available for Android and iOS❌ Limited customer support options
✅ Supports fiat currency deposits and withdrawals❌ Supports limited cryptocurrencies
✅ Offers various order types for tailored trading scenarios❌ High withdrawal fees
✅ Features a mining pool for convenient and cost-effective coin mining
✅ Low trading fees
✅ Proprietary multicurrency wallet for secure storage
✅ User-friendly trading interface
✅ Reliable customer service
✅ No history of major hacks or scandals

 

BTCC Regulation & Security

With a global user base exceeding 1.6 M, BTCC is unwavering in its commitment to security, backed by several key pillars.

It operates globally while prioritizing compliance with local regulations, holding regulatory licenses in various countries, including the USA, Canada, and Europe.

Learn more about banned countries in our BTCC restricted countries guide.

This dedication to legal and ethical cryptocurrency trading has earned industry recognition, consistently ranking among the top 40 exchanges on CoinMarketCap.

Furthermore, BTCC’s adherence to the Payment Card Industry Data Security Standard (PCI DSS) significantly mitigates the risk of credit card fraud and cyberattacks.

To ensure platform security and an optimal user experience, BTCC conducts regular maintenance and updates, promptly notifying users through various channels.

This comprehensive approach to security underlines BTCC’s reliability and commitment to providing a secure trading environment for its global user base.

Lastly, you can delete your BTCC account if you want to cut all ties.

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BTCC Trading Options

The BTCC trading platform boasts a straightforward interface suitable for novice and experienced cryptocurrency traders.

As shown in the image above, BTCC offers diverse trading types, making it accessible to a broad audience. These trading types include:

  • Market Orders: Users can buy or sell cryptocurrencies at the prevailing market price, ensuring swift execution of their trades.
  • Limit Orders: With limit orders, traders can set specific price points at which they wish to buy or sell cryptocurrencies. For instance, they can buy when the price reaches a predetermined low point.
  • Stop Orders: Designed to limit potential losses, stop orders activate when the price of a chosen asset hits a specified low point, allowing users to sell at a predefined level.
  • One Cancels Other Orders: While less common, these orders function precisely as their name suggests. When the price of an asset reaches a predetermined point, a buy or sell trade is executed, and any additional buy or trade orders with unmet price conditions are canceled.

All of these trading types can be conveniently executed within the user-friendly interface of the BTCC exchange.

 

Futures Trading

BTCC specializes in providing futures trading services, offering two distinct types of crypto futures:

  • USDT-Margined Futures: Settled in USDT, these futures contracts enable users to trade on 104 popular cryptocurrencies, including BTC, ETH, DOGE, XRP, SOL, and many others.
  • Coin-Margined Futures: Settled in various cryptocurrencies, coin-margined futures offer traders the flexibility to diversify their portfolios across a wide array of digital assets.

You can learn more in our BTCC futures guide.

 

Tokenized Futures

In 2022, BTCC introduced commodity and stock tokenized futures, expanding its offerings beyond cryptocurrencies. Users can now diversify their investment portfolios by exploring additional financial instruments.

These tokenized futures are settled in USDT, enhancing accessibility and convenience for traders.

 

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BTCC Products & Services

BTCC may offer a limited array of supported cryptocurrencies by today’s standards, but its focused approach serves a purpose.

BTCC strongly emphasizes simplicity and accessibility, particularly for the most widely sought-after cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Ethereum Classic.

This streamlined selection is not a drawback. Instead, it reflects BTCC’s commitment to providing a straightforward trading experience for cryptocurrencies with the broadest appeal, avoiding the complexities of niche markets.

Moreover, BTCC offers a feature-rich, multi-currency wallet named Mobi for both iOS and Android mobile devices, ensuring secure and convenient cryptocurrency management on the go.

Notably, BTCC sets itself apart by supporting One Cancels Other (OCO) orders, a feature that distinguishes it from many other exchanges, enhancing flexibility for traders.

 

BTCC Demo Trading

Another noteworthy feature of the BTCC exchange is its perpetual demo trading account. Upon registration, users receive a substantial 100,000 USDT in virtual funds, providing an ideal practice environment.

This risk-free resource enables traders to refine their strategies, gain confidence, and enhance their skills without any real capital on the line. It’s a valuable feature that makes BTCC an excellent choice for traders at all experience levels.

Read our BTCC demo trading guide to learn how to get started step-by-step.

 

BTCC Fees

Unlike many exchanges that charge high fees, especially those catering to specific national markets, BTCC offers competitive rates. BTCC offers a streamlined fee structure that does not distinguish between maker and taker fees for futures trading orders, typically 0.1%.

The exchange employs a tiered fee system for futures trading based on users’ VIP levels, ranging from VIP0 to VIP9.

Advancing through these VIP tiers grants users access to discounts on trading, withdrawal, and cryptocurrency conversion fees and the ability to cover trading fees using coupons.

Users at VIP3 or higher enjoy exclusive benefits, including birthday gifts, BTCC-branded merchandise, and dedicated support from an account manager and customer service team.

While BTCC’s transaction fees are highly competitive, it’s worth noting that withdrawals are subject to relatively higher trading fees compared to some competitors. The minimum Bitcoin withdrawal fee stands at 0.0015 BTC.

Cash withdrawal fees are set at 0.30%, with this figure representing the minimum value. The platform’s fees can vary depending on the type of transaction, including swaps, daily settlements, and more.

 

BTCC Deposit & Withdrawal Methods

This exchange also offers a user-friendly array of deposit and withdrawal methods. This means that users can conveniently transact in USD, and the platform accepts various payment options, including bank transfers, debit/credit cards, and direct cryptocurrency deposits.

Depositing funds onto the platform is a straightforward process. Users can choose from several payment systems, encompassing wire transfers and credit/debit cards, and select cryptocurrencies.

Notably, the ability to directly deposit via cryptocurrencies is a standout feature, setting BTCC apart from many other exchanges. However, it’s important to note that users must complete the account verification process before making deposits.

Withdrawing funds from BTCC is just as seamless as depositing. Online bank withdrawals have a daily limit of 100,000 or 500 for Bitcoin withdrawals. USD serves as the primary fiat currency for both depositing and withdrawing funds.

For more information, read our BTCC withdrawal guide.

 

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BTCC Customer Support

Along with a robust trading platform. BTCC also stands out for its customer support services. The platform offers live chat support, email support, and an online contact form for issue reporting.

Moreover, the BTCC team values customer feedback and consistently updates the platform to meet user needs. This commitment to improvement has earned BTCC a loyal user base.

The exchange also maintains an active presence on social media, particularly Twitter, which keeps users informed about new developments and updates.

With its dedication to customer satisfaction and open communication, BTCC ensures users have a reliable partner in their cryptocurrency trading journey.

 

How to Start Trading on BTCC?

Trading on BTCC is a relatively straightforward process. You can start our trading journey with this exchange by following the simple guidelines below:

 

Step 1: Sign Up

BTCC currently caters to users in the United States. To begin, attempt to sign up on BTCC. While the availability of Chinese and American users may vary due to ongoing changes, it’s worth trying to create an account to see your eligibility.

 

Step 2: Verification

To complete your BTCC verification, follow these steps: Verify your email, set up passwords, enable Two-Factor Authentication (2FA), and make account deposits.

Additionally, be ready to fulfill KYC (Know Your Customer) requirements, which entail submitting a photo of your face, a government-issued ID, and proof of address. Keep in mind that KYC requirements may change during BTCC’s transitional period.

You can learn more about the verification process in our BTCC KYC guide.

 

Step 3: Deposits & Withdrawals

You can perform deposits and withdrawals using credit/debit cards, bank transfers, or Bitcoin. Remember that fees vary based on the chosen action and payment method.

 

Step 4: Buy/Trade

Users can easily buy or sell the four supported assets inside the primary trading interface using different order types, including Limit Orders, Market Orders, Stop Orders, and One Cancels Other Orders.

 

Step 5: Store Your Cryptocurrency

While BTCC’s wallet remains secure, it’s advisable not to store cryptocurrency on any exchange, particularly with regulatory considerations like BTCC.

The platform offers its multicurrency wallet called Mobi, which is a reliable option. However, numerous other wallet options are available for added security, which can be explored further on our wallets page.

 

The Verdict

BTCC is a seasoned player in the cryptocurrency exchange arena with a history of reliability and trustworthiness. However, its future remains uncertain, primarily due to China’s stringent cryptocurrency regulations.

The potential reopening of the Chinese market could be a game-changer, but it also faces the challenge of adapting to friendlier markets like the United States.

Ultimately, BTCC exhibits potential for ongoing growth and enhancement, but it may not align with your trading requirements, particularly if you plan to trade using a broader range of cryptocurrencies.

In such a case, we recommend exploring Kucoin or Bitget, both esteemed and secure cryptocurrency platforms that boast an extensive array of cryptocurrencies and enhanced trading functionalities to suit your diverse trading preferences.

 

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FAQ

Can US investors trade on BTCC?

BTCC is a highly favored exchange among users in the United States. It offers an extensive range of assets, keeps fees minimal, and provides an easy-to-use trading interface.

 

Is BTCC safe?

BTCC has been committed to fostering a secure user environment since 2011. It employs several safety measures to uphold this commitment, such as a rigorous verification process and a two-factor authentication (2FA) method.

BTCC stands out as one of the most secure cryptocurrency exchanges, with no recorded hacks or security breaches.

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